- 85% of global marketing decision-makers adjust their strategies to prepare for a recession.
- Marketers focus on reducing unnecessary spending, consolidating marketing efforts, and bringing tech/services back in-house to improve ROI.
- Nearly two-thirds of marketers prioritize full-funnel media planning to maintain brand awareness and long-term brand health.
According to a study by the DAC Group, 85% of global marketing decision-makers are adjusting their strategies to prepare for a recession. To improve ROI, marketers are focusing on reducing unnecessary spend (71%), consolidating marketing efforts (68%), and bringing tech/services back in-house (67%).
The study also found that nearly two-thirds (62%) of marketers prioritize full-funnel media planning over the next year to maintain brand awareness, which is crucial for long-term brand health and a share of voice beyond a recession.
However, the sample faced challenges in delivering a full-funnel media experience, with 70% struggling to derive actionable insights from their customer data, 60% finding it hard to track metrics/performance across the customer journey, and 58% find it challenging to respond to market changes quickly.
According to Mike Fantis, managing partner at DAC Group London, marketers must apply a performance mindset across the entire marketing funnel and hold every penny accountable. The technologies that businesses have embraced the most are SEO platforms (85%), customer analytics and insights tools (81%), and cross-channel identity resolution platforms (77%).
Nasser Sahlool, DAC’s senior VP of client strategy, said that delivering financial value while measuring the halo effects of brand media on branded search activity is the key to developing effective, resilient media plans and measurement strategies in what will be an extremely challenging market.
DAC Group commissioned Forrester Consulting to develop the report ‘Plan for long-term growth with a full-funnel performance mindset’ based on a survey of 260 senior marketing leaders and digital experience decision-makers.